• Money & Markets
Wednesday, August 10, 2022
  • Login
No Result
View All Result
NEWSLETTER
Money & Markets
18 °c
Nairobi
18 ° Fri
18 ° Sat
18 ° Sun
18 ° Mon
  • News
  • Big Read
  • Markets
  • Economy
  • Investing
  • Energy
  • Opinion
  • Africa
  • World
  • News
  • Big Read
  • Markets
  • Economy
  • Investing
  • Energy
  • Opinion
  • Africa
  • World
No Result
View All Result
Money & Markets
No Result
View All Result
Home Headlines

Barclay’s reports Sh5.4 billion in net profit for third quarter 2018

by Editor
June 12, 2020
in Headlines, Highlights, News
0 0
0
Barclay’s reports Sh5.4 billion in net profit for third quarter 2018
0
SHARES
32
VIEWS
Share on FacebookShare on Twitter

 

By M&M Reporter

Barclays Bank of Kenya Ltd has today reported a profit after tax of Sh5.4 billion for the period ended 30 September 2018, and operating profit of Sh10.5 billion a growth of 5% compared to a similar period last year.

The performance is mainly attributable to a 6% growth in total income, but was partially offset by growth of 6% and 21% in costs and impairment, respectively.

Customer deposits grew by 10% to Sh220 billion with transactional accounts constituting 66% of the total deposits. The Consumer Banking and Business Banking segments recorded double-digit growth year on year.

Net customer loans was up 7% to close at Sh178 billion driven products across board that recorded a strong growth year on year performance. The Bank’s deployment of excess funding was underpinned by investment in government securities and dealing securities book which increased to Sh103billion.

As a result of successful investments and execution of our growth strategy, total income increased by 6% to Sh23.9 billion, with non-funded income up 14% year on year.

The Bank costs were well managed at Sh13.3 billion reflecting 6% increase year on year below inflation.

In order to reposition the bank for the future, and in line with its new strategy, the bank invested significantly towards simplifying its structures, the brand transition project and new non-branch service channels, driven by changing customer behaviour.

 

Adjusted for these investments, total costs dropped by 4% in the review period, outperforming inflation.

Editor

Editor

Next Post
Hugo Boss opens fashion store in Nairobi

Hugo Boss opens fashion store in Nairobi

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *




Latest Articles

  • PwC and KBA have released the Kenyan Banking Sector Total Tax Contribution report
  • Fresh Kenyan Avocados sold at the largest fruit market in East China
  • Safaricom unveils ‘Tuinuane’ Brand Campaign.
  • Mozzart Bet to sponsor the national women volleyball team Malkia strikers
  • Mozzart Bet unveils Nandi Road Race sponsorship
  • Shift Towards Domestic Tourism a Game Changer in Post-Covid-19 Recovery
  • Equity Bank has been feted as the Best Bank in Kenya in the 2022
  • Kenya Academy of Sports 2nd International Sports Conference begins in Nairobi
  • Kodris Africa officially unveiled in Kenya as Government adopts new content for teaching coding for schools
  • KCB Shareholders approve Ksh 9.64B  dividend payout.  

TOP SEARCHES

acquisition AfDB Airtel Banks brexit CBK Central Bank Central Bank of Kenya China COVID-19 dividends energy Equity Bank Equity Group Equity Group Holdings Finserve High Court ICT Imperial Bank Insurance interest rates Jambojet Jumia KCB KDIC KenGen Kenya Kenya Airways KRA M-Pesa MD mKey MPesa NSE Patrick Njoroge profit profits Safaricom Safaricom foundation shareholders shares SMEs StarTimes Tanzania Uhuru Kenyatta




  • Money & Markets

© 2020

No Result
View All Result
  • Money & Markets

© 2020

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In